Feb 17, 2021: Ambassadors of United Arab Emirates (UAE) Hamad Obaid Ibrahim Salem Al-Zaabi and Czech Tomas Smetanka Wednesday separately called on Minister for Energy Omar Ayub Khan and discussed matters related to cooperation in the field of energy.
In a meeting, the UAE envoy and minister discussed the on-going cooperation in the petroleum sector and explored the priority areas of mutual interest in the energy sector of Pakistan, a Petroleum Division news release said.
Omar Ayub congratulated and lauded Emirates for sending a space mission to Mars “Amal or Hope'' and its successful entry into the Mars' orbit.
Thanking and extending his gratitude for the minister’s pleasant remarks, the ambassador expressed the UAE’s keenness of further investment in Pakistan’s energy.
He said the collaboration in the energy sector would provide an impetus to economic ties between the two brotherly countries.
During another meeting, Minister for Energy Omar Ayub Khan and Czech ambassador Tomas Smetanka had a ‘comprehensive discussion’ on Pakistan’s energy outlook and market potential.
The envoy explored the areas of mutual discussion in the energy sector including investment in oil sector and business in Liquefied Natural Gas supply chain for a group of Czech companies visiting Pakistan by end of March, this year.
The minister also highlighted the government's robust policies to revamp the petroleum and power sector of the country.
He said the government was fully committed to diversifying the outlook of the energy market while making it more competitive and efficient.
The minister briefed about the Indicative Generation Capacity Expansion Plan (IGCEP) 2030 which emphasized on increasing the share of indigenous sources on basis of amount, time and location while reducing the reliance on imported fuel.
He further highlighted that the IGCEP would forge “additional renewable capacity i.e 60% power generation from biomass, solar & wind; 30% from hydel, 10% each from thermal and nuclear power plants.“
Omar Ayub also dilated upon the oil and gas Exploration and Production (E&P) activities in Pakistan and said that recently the government had held the bidding of 15 oil & gas blocks.
These blocks, he said would bring “minimum investment of over USD 71 million in three years, additionally, the development programs worth of hundred million dollars would be extended by E&P companies in located areas.”
He said the government would be offering more new oil & gas blocks by end of this year as part of its strategy to revive the E&P activities in the country, which had been ignored by previous governments.
The minister said the government also aimed at achieving self-sufficiency in the oil & gas sector and harnessing the maximum potential of energy resources in the country. For which, he said, the incumbent government had introduced a policy of ease-of-doing-business and transparency to ensure a level-playing field for all competitors in the energy sector.
The ambassador voiced hope that the Czech companies would have valuable input from Pakistani counterparts and would find best opportunities for investments and business in the energy sector of Pakistan. “It will strengthen the bilateral economic relations between the two countries,” he said.